Lloyd’s Chairman Carnegie-Brown Reflects on Life of Former Chairman Rowland

Article 0 Comments Bruce Carnegie-Brown, chairman of Lloyd’s, issued this market bulletin on Feb. 18, 2019 about the life and death of Sir David Rowland, who was chairman of the market between 1993 and 1997. It is with great sadness that I am writing to inform you of the passing […]

Global Broking Network Brokerslink Appoints Gavriel as European Regional Manager

Article 0 Comments Global broking network Brokerslink has appointed Christos Gavriel to the role of regional manager for Europe. Gavriel has a strong background in insurance having previously held various international roles at AIG before going on to set up and manage his own business, Renaissance Insurance Brokers Ltd, a […]

Estonia Probes Allegations Swedbank Linked to Danske Money Laundering Scandal

Article 0 Comments Estonia is investigating allegations linking Swedbank to suspicious transactions in the country involving Danske Bank, Estonia’s state prosecutor said on Wednesday. Danske is being investigated in its home market of Denmark, Estonia, Britain, France and the United States over some 200 billion euros ($226 billion) in payments […]

Swiss Re 2018 Net Profit Rises 27% Despite Spate of Natural, Man-Made Disasters

Article 0 Comments Reinsurer Swiss Re on Thursday posted a 27.2 percent jump in 2018 net profit, despite claims from large-scale natural catastrophes and man-made disasters. Net profit for the full year came in at $421 million, compared with $331 million a year ago. However, company’s net profit lagged Reuters […]

AXA Reports 66% Drop in 2018 Net Profit on U.S. Unit’s IPO Costs, Natural Disasters

Article 0 Comments Net profits at AXA, Europe’s second biggest insurer, fell sharply as a result of charges related to its U.S. unit’s initial public offering (IPO) and a spate of natural disasters, although AXA hoped for higher earnings this year. Its 2018 net profit fell 66 percent from a […]

Built on Organic Growth, S. African Insurer Discovery Now Weighs M&As

Article 0 Comments South African insurer Discovery could expand through acquisitions in the future but must first work out how its innovative fluctuating premiums, based on clients’ lifestyle behaviors, could be applied to more traditional businesses. Discovery has spent more than two decades growing from a small upstart to a […]

‘Sextortion’ Is Emerging Cyber Risk for Businesses, Warns Beazley

Article 0 Comments A new form of online bribery is emerging where cyber criminals attempt to extort cryptocurrency by claiming to have potentially embarrassing evidence of people using adult websites on work computers, according to a report issued by Beazley Breach Response (BBR) Services. So-called “sextortion” is adding to the […]

Aviva Gets Court Approval to Move Assets to Ireland as Part of Wider Brexit Wave

Article 0 Comments England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit. The move, timed for 2259 GMT on March 29, is part […]

SCOR Names Conoscente CEO of SCOR Global P&C, Succeeding Peignet

Article 0 Comments SCOR announced the appointment of Jean-Paul Conoscente, currently chief executive officer of reinsurance at SCOR Global P&C, as CEO of SCOR Global P&C. This appointment follows Victor Peignet’s decision to retire for personal reasons, after 35 years with the SCOR group. Conoscente will also join the group’s […]

SCOR’s Net Profit in 2018 Rises 13% Despite Spate of Q4 Natural Disasters

Article 0 Comments French reinsurer SCOR, which was the target of a thwarted acquisition by rival Covea last year, posted a surge in overall 2018 net profits despite making a loss in the fourth quarter caused by a spate of natural disasters. Net profits rose 13 percent in 2018 to […]